Medical Office Condo For
For Sale
$899,000
830 Main St 1, Melrose, MA 02176
Medical/professional office condo near Tufts Medical Center and MelroseWakefield Hospital.
Property Size2,058 SF
Days on Market153
Property Features for 830 Main St 1
General Information
Standard status
Active
Size
2,058 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$10,721
Building Details
Building Size
2,058 SF
Year Built
1983
Listing Agency:
Mallon Real Estate
(617) 504-4144
Listed By:
Joseph Mallon
(617) 504-4144
Source:
Elliman
Added: Mar 10
Changed: Aug 8
Last Checked: Aug 8 at 6:22AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Mallon Real Estate
Investment Insights
Based on property information with market context.
This medical or professional office suite is a condominium located in the Tufts Medical Center building. The property is within walking distance of MelroseWakefield Hospital, downtown Melrose, and bus lines. The accessible lower-level unit features five exam rooms, two private offices, a spacious reception area with custom built-ins, an additional reception or waiting area, a business center, a staff lounge and kitchenette, two bathrooms, and storage space. Ample on-site parking is available.
Key Highlights
- Prime medical/professional office suite condo in Tufts Medical Center building.
- Features 5 exam rooms, 2 private offices, spacious reception, business center, staff lounge and kitchenette.
- Easy walk to MelroseWakefield Hospital, downtown Melrose and bus lines.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$65,301
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.26%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,306,020
$1.3M
Cap Rate 7%
$932,871
$932.9K
Cap Rate 9%
$725,567
$725.6K
Market Conditions
NOI Build-Up for 2,058 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$111.6K $54.24/SF
− Vacancy
−$24.6K −$11.93/SF
EGI
$87.1K $42.31/SF
− OpEx
−$21.8K −$10.58/SF
NOI
$65.3K $31.73/SF
Area
Middlesex County, MA
Vacancy
22.00%
Lease Rate
$54.24 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,306,020
Cap Rate 7%
$932,871
Cap Rate 9%
$725,567
Alternative Uses
Best Use
Office B
$932.9K
$816.3K – $1.09M
NOI $65,301 @ 7.0% cap · market cap 7.26%
Second Best
Healthcare Medical
$853.4K
$746.7K – $995.6K
NOI $59,737 @ 7.0% cap · market cap 6.64%
Theoretical Best
Office A
$1.22M
$1.07M – $1.42M
NOI $85,283 @ 7.0% cap · market cap 9.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,421
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 02176, MA
29,817
Population
12,724
Households
2.3
Avg Household Size
41
Median Age
62%
College-Educated
95%
High-School Grad
4.7 sq mi
ZIP Area
6,344
Density / Sq Mi
$126,854
Median Household Income
$80,293
Median Earnings
$1,933
Median Rent
$796,100
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Melrose Animal Clinic — 26 Essex St, Melrose, MA 02176
Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical/professional office condo near Tufts Medical Center and MelroseWakefield Hospital.
Where is this medical office space located?
The property is located at 830 Main St 1 Melrose, MA.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Prime medical/professional office suite condo in Tufts Medical Center building.; Features 5 exam rooms, 2 private offices, spacious reception, business center, staff lounge and kitchenette.; Easy walk to MelroseWakefield Hospital, downtown Melrose and bus lines.
